Bramesh
Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 2712 contracts worth ₹166 crores, resulting in a increase of 17754 contracts in the net open interest. FIIs added 7798 long contracts and added 7050 short contracts, indicating a preference for adding long positions and adding short positions. With a net FII long-short ratio of 0.99, FIIs utilized the market rise to enter long positions and enter short positions in Nifty futures. Clients added 2986 long contracts and added 5671 short contracts.
Nifty continue to rise for 6 day in a row ,Since today marks the weekly close, the Bulls need to secure a close above the 24900-24950 range to make a dash towards all time high on monday. On the other hand, the Bears will aim to close below the 24729-24700 range to set the stage for a trending move next week. This movement could be influenced by ‘Bayer Rule 2: The trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes, leading to a big move.
Nifty formed an NR21 on Thursday and a DOJI on Friday. On Monday, we will likely open with a gap up due to the Fed Pivot, but the key question is whether the gap will sustain. The 24,930 level is crucial for bulls to cross in order to push toward new highs. The 24,956-24,930 zone is the last gap remaining from the recent decline. Additionally, Bayer Rule 2, which states that the trend goes down within three days when the speed difference between Mars and Mercury is 59 minutes, leading to a big move, will become active on Monday. Therefore, the first 15 minutes high and low will be critical in guiding the day’s trend.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24757 for a move towards 24836/24914/24992. Bears will get active below 24601 for a move towards 24522/24444/24300 — Waiting for 24914/24992
Traders may watch out for potential intraday reversals at 10:06,11:10,12:51,01:14,02:01 How to Find and Trade Intraday Reversal Times
Nifty Aug Futures Open Interest Volume stood at 1.09 lakh cr , witnessing a addition of 3.7 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 21:29 and Nifty Rollover Cost is @24503 closed below it.
Nifty Gann Monthly Trade level :24592 close above it.
Nifty closed above its 20SMA @24537 Trend is Buy on Dips till above 24592
Nifty options chain shows that the maximum pain point is at 24800 and the put-call ratio (PCR) is at 1.2 Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
Nifty 50 Options Chain Analysis
The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 24800 strike, followed by 24900 strikes. On the put side, the highest OI is at the 24700 strike, followed by 24600 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24600-24900 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 1944 crores, while Domestic Institutional Investors (DII) bought 2896 crores.
Traders who follow the musical octave trading path may find valuable insights in predicting Nifty’s movements. According to this path, Nifty may follow a path of 23889-24600-25310 This means that traders can take a position and potentially ride the move as Nifty moves through these levels.Of course, it’s important to keep in mind that trading is inherently risky and market movements can be unpredictable.
Your Mental Toughness is going to be the key to whether you make it or break it as a trader. I know of two MAJOR things that you can do to develop your Mental Toughness for trading. The first is to keep a journal.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 24581 . Going Long Or Short Above Or Below This Level Can Help Them Stay On The Same Side As Institutions, With A Higher Risk-reward Ratio. Intraday Traders Can Keep An Eye On 24848 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24905 Tgt 24950, 24999 and 25055 ( Nifty Spot Levels)
Sell Below 24850 Tgt 24810, 24777 and 24729 (Nifty Spot Levels)
Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.
As always, it’s essential to closely monitor market movements and make informed decisions based on a well-thought-out trading plan and risk management strategy. Market conditions can change rapidly, and it’s crucial to be adaptable and cautious in your approach.
Related